CCIM Connections Continued(5)
In the March/April issue of CIRE
magazine, CCIMs share advice that helps shape their approach to business. Here,
we offer more of that wisdom.
Listen, listen, listen to your clients and customers! Give them
what they need as professionally as possible and follow up.
David C. Murray CCIM, SIOR
What goes around comes around.
Savoy, CCIM, SIOR
Don’t ever get emotionally attached to your real estate – it’s
Water rises to its own level.
Susan Wincn, vice president with EJM Development, offered me
this simple concept over lunch one day. It’s amazing that a six-word sentence
can exemplify the degree of responsibility that we must take for our own
actions (or inaction), especially in these volatile times. You can put your
head in the sand and come to work from 10:00 a.m. to 2:00 p.m. with the excuse
that volume is down and there’s no point. Or you can fight through one small
deal at a time and rise to your own level. You decide. But you live with your
Hire slowly and fire quickly.
This applies to employees and clients. If you always utilize
this strategy, you will not be burdened with those who waste your time and
Sam DiFranco, CCIM, SIOR, CEA
To be successful, just listen to the market. The market will
readily tell you what it wants, but you have to stop talking and
listen.Then just go out and meet that demand.
Focus on the relationship; never focus on the deal. Serving a
deal may get you through the next month or so, but serving the relationship,
and the best interests of your client, will get you through your career,
despite the economy or any other factors.
Brad Bonkowski, CCIM
Always strive to keep at least one year of liquidity available
and another year or two of open credit lines to get you through a hard patch. Also,
when all the indicators are looking at unlimited growth, protect yourself from
the downturn. No matter how good the market, the train always comes, and most
will not see it coming.
Wood Hughes, CCIM, ALC
Debt is bad, saving is good, giving is fun, and stuff is
Benjamin LaFreniere, CCIM
Suit up and show up.
Randolph T. Mason, CCIM, SIOR
From an attorney friend – “obtain
outstanding service to your clients and they will keep coming back and
referring clients. During the downturn of 2009 the majority of my work was with
existing clients and I would have had nothing if not for them.Thank them
often for what they do for you.
Outwork and out-educate your competition.
I don’t know who said it first, but I truly believe that the
pain of self-discipline is far less intense than the pain of regret. Above all,
the best business advice I ever received is how powerful self-discipline can be:
It’s the fuel that makes everything else run.
Woods, CCIM, SIOR
There are three things you need to know about succeeding in real
estate. They are: see the people, see the people, and see the people.
Stan W. Nelsen, CCIM
You make your money
when you buy.
Get yourCCIM designation.You will not regret it.
Von W. (Buck) Moody III, CCIM, CRE, MAI, FRICS, CAE
Don't kick the ass you
may have to kiss someday.
Debra Lee Stevens, CCIM
1: Perspective. If the problem can be solved with money, then it
likely isn’t a real problem. Remind yourself what has real importance and what
2: Communicate. The worst kind of news is no news. Be honest, frank,
and clear in delivering the news people need to hear, not necessarily what they
want to hear.
3. Basics. Great coaches start with the absolute basics: On the
first day of practice they re-teach how to put on socks. Relearn what you know,
and put it to practice.
4. Share. Find a business person - someone other than a spouse
or coworker - to meet with regularly. Agree to intentionally and intensely
listen to each other.
Tim Hatlestad, CCIM
There’s always another deal around
Robin Eschliman, CCIM
Never try to make money off of someone; always try to make money
Ninety percent of this business is being available.The
other 10 percent is solving the problem.
Nicholas L. Miner, CCIM
1. Never consider
purchasing an investment property that is above or below the street grade.
2. Always look for properties that have a ratio of three parts land to one part
3. Always look for properties that are in the way of progress.
Ed Herbert, CCIM
I am lucky to have had two mentors
in my life: my Dad, Lane Meltzer, and a partner, Sam Katz. I worked with both
of them for over 25 years, and a common theme of their mentoring was patience.
Patience to wait for the right opportunity. Patience with tenants who
communicate that they are having a hard time. Patience with contractors and
subcontractors to earn their trust, which eventually earns good pricing and
prioritization for my jobs. Patience to look at and analyze hundreds of pieces
of property before making an offer on one. Patience to pursue a great
opportunity without emotion. Patience in analysis, reviewing spreadsheets,
detailing formulas and numbers. Patience to walk properties looking for
deferred maintenance and cleanliness. Patience to hold a property for the long
term. Patience to listen to the person across the table. And the persistence to
eagerly pursue each of the above with judgment.
Meltzer CCIM, CRE
You build your reputation one response at a time.
Andrew Cheney, CCIM
It’s too soon to quit. Every commercial transaction dies a
thousand deaths before closing.
David N. Thomas, CCIM
Stay positive because people like to do business with people who
make them feel good.
Melissa J. Molyneaux, CCIM
Always add value to your company in whatever you do. As long as
you are making money for the company and its clients, even if it means doing
tasks and duties that are not glamorous at times, you will always have a job.
Jeffrey W. Eales, CCIM, CPM